Statoil to explore offshore Ireland

Following a successful 2015 auction, Norwegian energy company Statoil said it was building a better position in the emerging reserve potential offshore Ireland. Statoil, alongside Exxon Mobil, was awarded the rights to explore roughly 2,900 square miles of the deep waters off the Irish coast. “This supports Statoil`s exploration strategy of early access at scale,” Erling Vagnes, a regional vice president for Statoil said in a statement. “We look forward to working with Exxon Mobil on exploring these opportunities.” The six licenses to be shared by Statoil and Exxon Mobil are in the Porcupine basin in the Atlantic Ocean. The Norwegian company said preliminary work through 2017 would focus on seismic research to get a better […]